The sales budget for the first three months of the coming year is expected to be $30,000, $ 50,000, and $ $70,000 with 50% of each month's sales being on credit. Collection of accounts receivable are scheduled at 50% during the month of sale, 50% is collected in the month following. The total budgeted cash receipts from sales for the second month of the coming year will be?

Answer rating: 100% (QA)

Calculate the credit sales for each month January 30000 x 50 15000 Februar... View the full answer